New Colombia Resources has secured work plan approval from the Agencia Nacional de Mineria (ANM) of Argentina for its metallurgical coal mine.
The company will now work with local environment authorities to progress towards production stages.
Over next few weeks, New Columbia will submit the permit application for the extraction of raw building materials and an environmental permit for coal production.
New Colombia is also in talks with major international coal and energy companies that have an interest in entering the Colombian coal sector.
Receipt of a coal environmental permit is anticipated in first quarter (Q1) and the company expects to generate revenue within the first half of Q1.
New Colombia president John Campo said the approval of the work permit by the ANM is a great step towards coal production.
"To my knowledge, we'll be the only international junior exploration company at the coal conference that took a mining contract from solicitation to a work plan approved concession in these market conditions," Campo said.
"I'm very confident we're making the right contacts to develop over 4,000ha of mostly metallurgical coal available to us."
New Colombia is focused on the acquisition and development of metallurgical coal properties and other available resources in the Republic of Colombia.
Image: New Colombia Resources is seeking an environmental permit for coal production. Photo: courtesy of FreeDigitalPhotos.net/dan.